Warren will be Banking Committee ranking Democrat in next Congress

Sen. Elizabeth Warren, D-Mass., an advocate of a strict financial regulatory regime, will become the top Democrat on the Senate Banking, Housing and Urban Affairs Committee in the next Congress.

Sen. Sherrod Brown, D-Ohio., had been the chair of the Committee. However, Brown lost his bid for reelection and Democrats lost majority control of the Senate—resulting in Sen. Warren becoming the ranking member.

Sen. Warren, who is credited with designing the CFPB before initially being elected to the Senate, won her own reelection bid earlier this month.

“I’ve spent my entire career fighting to make our economy work better for middle-class families – not just for the wealthy and well-connected,” Sen. Warren said, in a statement. “Decisions made by the Senate Committee on Banking, Housing, and Urban Affairs have a powerful impact on Americans’ lives, and I’m grateful for the pportunity to fight for families who most need a government on their side.”

Sen. Tim Scott, R-S.C., who currently is the ranking member of the Committee, is expected to become the chair.